Geode Capital Management LLC Boosts Stock Position in Brady Co. (NYSE:BRC)

Geode Capital Management LLC lifted its stake in shares of Brady Co. (NYSE:BRC - Free Report) by 7.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 658,093 shares of the industrial products company's stock after acquiring an additional 45,206 shares during the period. Geode Capital Management LLC owned 1.38% of Brady worth $50,445,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James & Associates raised its position in Brady by 0.3% in the second quarter. Raymond James & Associates now owns 46,010 shares of the industrial products company's stock valued at $3,038,000 after purchasing an additional 144 shares during the period. Creative Planning increased its position in shares of Brady by 1.9% during the third quarter. Creative Planning now owns 10,472 shares of the industrial products company's stock valued at $802,000 after acquiring an additional 195 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Brady by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 54,396 shares of the industrial products company's stock valued at $4,168,000 after acquiring an additional 197 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of Brady by 5.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 3,755 shares of the industrial products company's stock worth $288,000 after acquiring an additional 198 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Brady by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 12,540 shares of the industrial products company's stock valued at $828,000 after buying an additional 230 shares during the period. Institutional investors and hedge funds own 76.28% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Brady from a "strong-buy" rating to a "buy" rating in a research report on Friday, October 11th.

Insider Buying and Selling at Brady

In related news, COO Thomas F. Debruine sold 2,851 shares of Brady stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $75.77, for a total transaction of $216,020.27. Following the completion of the transaction, the chief operating officer now directly owns 9,727 shares in the company, valued at $737,014.79. The trade was a 22.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Russell Shaller sold 21,128 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $75.30, for a total value of $1,590,938.40. Following the sale, the chief executive officer now owns 102,150 shares in the company, valued at approximately $7,691,895. This trade represents a 17.14 % decrease in their position. The disclosure for this sale can be found here. 15.60% of the stock is currently owned by corporate insiders.

Brady Stock Up 1.0 %

Brady stock traded up $0.74 during mid-day trading on Monday, hitting $74.87. The company had a trading volume of 52,492 shares, compared to its average volume of 278,142. The company has a quick ratio of 1.25, a current ratio of 1.84 and a debt-to-equity ratio of 0.11. The business has a fifty day moving average of $74.31 and a 200 day moving average of $71.87. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of 18.40 and a beta of 0.77. Brady Co. has a 1 year low of $56.09 and a 1 year high of $77.68.

Brady (NYSE:BRC - Get Free Report) last issued its quarterly earnings results on Monday, November 18th. The industrial products company reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.02. Brady had a net margin of 14.19% and a return on equity of 19.79%. The firm had revenue of $377.10 million during the quarter, compared to analysts' expectations of $365.88 million. During the same quarter in the prior year, the business earned $1.00 EPS. Brady's quarterly revenue was up 13.6% compared to the same quarter last year. On average, sell-side analysts expect that Brady Co. will post 4.55 earnings per share for the current fiscal year.

Brady Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Friday, January 10th. Brady's dividend payout ratio is presently 23.59%.

Brady Company Profile

Brady Corporation manufactures and supplies identification solutions (IDS) and workplace safety (WPS) products to identify and protect premises, products, and people in the United States and internationally. The company offers materials, printing systems, RFID, and bar code scanners for product identification, brand protection labeling, work in process labeling, finished product identification, and industrial track and trace applications; safety signs, floor-marking tapes, pipe markers, labeling systems, spill control products, lockout/tagout device, and software and services for safety compliance auditing, procedure writing, and training; and hand-held printers, wire markers, sleeves, and tags for wire identification.